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1,100-Space Garage Buy Makes Good Fit for Wedge Commercial's Plans

HOUSTON-Wedge Commercial Properties Corp. picks up a good fit--a 1,100-space parking garage--for its 500,000-sf office tower and its proposed site for a second high-rise office structure.

By Connie Gore | Updated on October 04, 2000

HOUSTON-Wedge Commercial Properties Corp., based here, has purchased a 12-story parking garage in the heart of Downtown Houston.The garage, located at 777 Clay, covers approximately one-half of a block. Wedge purchased the garage from LaSalle Investment Management. The CB Richard Ellis real estate firm brokered the transaction.

The garage contains 1,100 parking spaces, some of which lease for more than $200 per month. The garage is located near the Wedge International Tower, a 500,000-sf building at 1415 Louisiana. Wedge’s office tower is approximately 90% leased.

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